On August 2, the Atlanta-based crypto payment services provider Bitpay announced that it has expanded its crypto asset support with two different crypto assets. Bitpay revealed the company has integrated apecoin and euro coin into the firm’s platform and the luxury retailer and designer Gucci has announced it will be the first merchant to accept apecoin through Bitpay.
APE and EUROC Now Supported by Bitpay’s Payments Platform, Gucci Becomes the First Merchant to Accept APE via Bitpay’s Services
Bitpay has added two new crypto assets to the company’s payment platform after Bitpay’s payment processor already accepted digital currencies like bitcoin, bitcoin cash, ethereum, xrp, dogecoin, shiba inu, and litecoin.
Alongside those coins, Bitpay supports a few stablecoin assets as well like Circle’s usd coin (USDC). This week, Bitpay expanded the platform’s options by adding apecoin (APE) and euro coin (EUROC).
Apecoin (APE) is well known for being a crypto asset designed for the Bored Ape Yacht Club (BAYC) metaverse called the “Otherside.” The digital currency euro coin (EUROC) is the newly launched Circle stablecoin backed by 1:1 with the euro (EUR).
Both crypto assets were launched this year and Bitpay details that the luxury retailer and designer Gucci will be the first merchant to accept APE via Bitpay’s system in U.S. stores.
Gucci already accepts ten different crypto assets and Bitpay’s co-founder and CEO Stephen Pair said luxury merchants like Gucci, asked Bitpay to support APE and the new euro-based stablecoin EUROC.
“We added apecoin and euro coin because customers of our luxury merchant partners asked for it,” Pair said in a statement sent to Bitcoin.com News. Bitpay also explained that apecoin holders can leverage the coin with the Bitpay Mastercard.
Apecoin is ranked 33 out of more than 13,000 crypto asset market capitalizations and it reached an all-time high three months ago on April 28, 2022. At that time APE tapped $26.70 per token and today, apecoin is down 74.5% from the all-time price high.
Circle introduced euro coin in mid-June 2022 and the number of euro-pegged stablecoins has swelled 1,683% since 2020. Prior to supporting EUROC, Bitpay already supported five USD-pegged stable coins BUSD, DAI, GUSD, USDP, and USDC.
What do you think about Bitpay adding APE and EUROC to the company’s supported lineup of crypto assets? What do you think about the luxury retailer and designer Gucci accepting APE at its U.S. stores? Let us know what you think about this subject in the comments section below.